Answer:
d. Relies on prices and sales to communicate consumer wants to producers.
Explanation:
Market mechanism also known as free market economy is a market where there are no government control over what the buyers buy and what the sellers sells. Here, there are no regulations to prices of goods and services .
In a market mechanism, decisions on forces of demand and supply are made solely by individuals. Market mechanism are associated with capitalist economies unlike Government controlled markets which are associated with Socialist economies.
Examples of market mechanism are industries, companies, businesses which produces and sells goods and services at the price commensurate with what consumers want to pay . Also, companies are willing and able to pay highest wages and salaries in line with workers demand.
Answer:
$500,000
Explanation:
The computation of total manufacturing cost is shown below:-
Flexible Budget Manufacturing Cost = Variable cost of Manufacturing at actual units + Estimated Fixed Manufacturing Costs at the budgeted Units
= (8,000 Units × $50 per unit) + (5,000 Units × $20 per unit)
= 400,000 + 100,000
= $500,000
So, for computing the Flexible Budget Manufacturing Cost we simply applied the above formula.
Answer:
$1,200 was subject to income tax is the correct answer.
Explanation:
All else equal, imposing taxes in markets where demand and supply are price inelastic not only causes less inefficiency but also raises more revenue.
What is meant by price inelastic?
Inelastic is an economic term referring to the static quantity of a good or service when its price changes. Inelastic means that when the price goes up, consumers' buying habits stay about the same, and when the price goes down, consumers' buying habits also remain unchanged.
What is inefficiency in business?
Inefficiency is defined as a lack of organization or skill that wastes time, energy, or money. For business owners, it is the practice that sparks a worst-case scenario. Every penny spent on tools and software to make the business run smoother is the cost of running an efficient organization.
What do revenue means?
Revenue is the total amount of income generated by the sale of goods or services related to the company's primary operations. Revenue, also known as gross sales, is often referred to as the "top line" because it sits at the top of the income statement. Income, or net income, is a company's total earnings or profit.
Learn more about demand and supply:
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Answer:
the ending balance of the unearned revenue is $3,225
Explanation:
The computation of the ending balance is shown below:
= Amount received from the customer for performing the future service + balance in the account
= $500 + $2,725
= $3,225
Therefore the ending balance of the unearned revenue is $3,225
The above formula should be applied
